The owner of the Ricoh Arena, ACL, have responded to a High Court judge's decision to throw out an application for a judicial review by Coventry City.

The owners of the club, Sisu, brought forward the legal challenge after Coventry City Council took on the Ricoh Arena's mortgage.

We note the announcement today that the High Court has dismissed the application by SISU to seek a judicial review of Coventry City Council’s decision to take over Yorkshire Bank’s loan to ACL. We are pleased to see that what we believe to be the correct judgment has been made in this unfortunate situation.

Indeed, Mr Justice Males has made the reasons for his judgment very clear. We note, in particular, his reference to the withholding of lawfully owed rent by SISU as a means of exerting pressure on ACL in commercial negotiations, which had led to an unsatisfied judgment in the High Court in ACL’s favour.

We are also pleased that Mr Justice Males has included in his judgment the decision that ACL’s costs in relation to this dismissed case should be borne by SISU.

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A High Court judge has thrown out an application for a judicial review of the decision by Coventry City Council to take on the Ricoh Arena's mortgage.

We are delighted that permission to apply for a judicial review by Sisu-related companies (including Coventry City Football Club Holdings Ltd) into the Council's decision to restructure Arena Coventry Limited's loan at a commercial rate from Yorkshire Bank, has been refused in the strongest terms by High Court Judge Mr Justice Males.

While we always knew we had a strong case, there was always the possibility that a judge could allow the case to be heard, tying up the Council in lengthy and complex litigation which would, whatever the outcome, have benefitted no-one.

The judge has thrown out the case at the earliest possible opportunity, and while the applicants can appeal the decision at an oral hearing we hope the robust refusal of the application will allow us to move forward.

For the past few months the threat of litigation has fettered the Council. We’ve been unable to speak out about this issue or talk about the reasons why we’ve taken the decisions we have. That’s been very difficult for us all; we know how important the Ricoh Arena and the Sky Blues are to Coventry people and how desperate people are for us to do what we can to find a solution.

– Joint statement from Cllr Ann Lucas, Leader of Coventry City Council and Cllr John Blundell, Leader of the Opposition, Coventry City Council

The Council also said: "We’re clear about our priorities; our primary focus is to support the development of a very important asset for the city, continue the regeneration of this part of Coventry."

"We also want a successful and sustainable football club playing at the Ricoh. Our aim is to work hard to deliver this."

Coventry City have released a statement in response to attacks from Ricoh Arena against the Joint Administrator Paul Appleton, the Football League and SISU.

Arena Coventry Limited initially said:

The liquidation process allows for detailed investigation of the failed business and we will be watching carefully to ensure this is carried out in an appropriate manner in the case of Coventry City Football Club Limited.

We hope also that because of the questions being asked by supporters and other stakeholders about his actions, Mr Appleton will allow new, independent liquidators to investigate the actions of the Company and officeholders if the Company does go into liquidation, which we note has still not been publicly confirmed.

– Arena Coventry Limited

In response Coventry City have welcomed an investigation into dealings at the club.

We can answer every single point put forward and have nothing to hide. In fact, we welcome any investigation that examines this whole affair – including the property and financial deals relating to the move from Highfield Road, which is where this all began.

We are also happy for an investigation into why previous owners of the club set up the Limited/Holdings structure in 1995 and any transfer of assets since then.

The Football League has said it is "dismayed" over the continuing disagreement between the the owners of the Ricoh Arena and Coventry City's administrators that has left the club on the brink of liquidation.

Coventry City are on the brink of liquidation. Credit: Nigel French/PA Wire

Football League Chairman, Greg Clarke said: "Once again, it is a source of immense frustration to everyone involved that the two parties in this dispute have failed to reach any agreement. The Board is dismayed at the level of intransigence being shown."

The association insisted that it would continue its efforts to get the parties to enter "meaningful negotiations" so that Coventry City can return to Coventry "at the earliest opportunity".